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Belacoin

BELA long setup + upcoming positive eventsAfter my last successful venture in low-cap coins (Peercoin, you can see the idea in related ideas) i'm now into a new low-cap coin (~4.5M usd). This time is BelaCoin. Belacoin is a project announced in late january 2014. It is a litecoin fork with Scrypt mining algorithm. But Belacoin tries to do something different to most of other cryptocurrencies, and has built in top of its blockchain 2 mobile app's available in the Google PlayStore. Belacam and BellaChess. The first one is a Instagram/Snapchat like app. A pictures social network where you are rewarded with belacoins for your likes The second one is a Chess game where you can bet belacoins. You can learn a bit more about them in their official site, here . This trade is inspired in both "fundamentals" and technicals. Technically we have: Daily bullish divergences in both MACD and RSI Price at bottom of a consolidation triangle Price bouncing off 2 months trendline Three drives pattern in 4h TF targeting 13k Here you have the not very perfect three drives pattern in the 4h chart Fundamentally we have the next events incoming next weeks: Belacam 2.0 Addition to the multicryptocurrency wallet Coinimy Deploying of Dark Gravity Wave (the dash difficulty adjusting algorithm) Addition to a new exchange I've bought 8400, i'm planing to buy on the descending triangle breakoug, and have some small orders down to 7000. Stop loss under 6700, and targeting 11.5k (38.2% retracement of downtrend), 13.3k (three drives pattern target) and 15.7k (78.6% retracement of downtrend). So, summary of this trade: Entry: ~8500 Targets: 11500 (25%), 13300 (50%) and 15700 (25%) Stop-loss: 6700 Trade safe and be careful with low volume coins, you could loose a big % of your collateral
BLong
by bagofXMR
7
Where next for BELA?Introduction - What is BELA? Belacoin (BELA) is a crypto-currency token that considerably interests me just now because it currently has real-world application in the form of a chess game - Bellachess - which is available to download from the Google Play Appstore, and pays out BELA when you win a game. The development team also have the intention to integrate the currency into any number of future projects, the most important to-date is the (still under development) photo sharing App - BelaCam. Which will pay users when people Like their photo uploads. You can read more about both projects here - www.belacoin.org It doesn't take much imagination to see how profoundly important and potentially profitable the BelaCam application in particular could be for investors/holders of Belacoin when we look at the user base of popular applications such as Instagram and SnapChat, and exactly how much they are valued at. Alongside these platforms, Facebook and Twitter are also still heavily image-sharing based. What separates BelaCam from all of these platforms is the use of blockchain technology and payment to users for sharing their content. That is the 'unique selling point', and 'killer-app' if you will which could help spur rapid adoption and thus an increase in BELA value. BELA Price Rise Between the 21st and 25th of February the price of BELA climbed rapidly from 0.00002688 up to 0.00006889 - a 256% increase in value, and a new all time high. The main reason for the rise can be attributed to online posts from the development team that: (1.) Closed Alpha testing was underway, (2.) Screenshots of the product would be soon made available / marketing blitz, (3.) Listing on Bittrex had been officially applied for. So far, it looks like the price was pumped up on this hype into a bubble, which has subsequently burst. We can see by looking at the attached chart that the price is now working its way down through a Fibonacci retracement (78,6%... 61.8%... 50%?...). Support Line A We've seen a bounce off Support Line A, not falling quite as far as 50%, and returning to the 61.8% level. We need to watch this area closely for an indication of whether the retracement will further continue downwards. We are currently seeing a tug of war at this area. This will likely be guided over the next couple of days as the hype and release of marketing material hits social media. A successful marketing campaign should help keep the price above this level. So could a slip in Bitcoin price. Support Line B The next significant key area we should be looking at for the possibility of a bounce is at the 50% mark. This currently looks like the most likely area that we'll see a turnaround if support at 61.8% fails, with a likely bottom of Support Line B. Firstly, we could see prices drop to this area if the marketing material doesn't live up to the hype, secondly we could witness the effects of "buy on rumour, sell on news", lastly, we could see some continued pressure from the rise in Bitcoin price. Support Line C There is also the possibility that factors mentioned above could put exceptionally heavy pressure on BELA. In which case a drop to find a bottom at Support Line C - which is the long-term support line remains, though currently unlikely, a possibility.
B
by CryptoCoinNomad
3